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Econ final.rtfd/TXT.rtf

Analytical Question on Market Structure Analysis I. As discussed in class, briefly describes the  main characteristics of each market structure, by filling the information in the table below (9): Type of product: Standard or differentiable Price competition: Strong, some or none. Economic Profits: Positive or none. II. Explain why in the case of  Oligopoly we could end up with a collusion or no-collusion outcomes (3P  

Perfect Competition

Monopoly

Oligopoly

Monopolistic Competition

Example of industry

 

 

 

 

Type of Product

 

 

 

 

Numbers of firms

 

 

 

 

Barriers to entry

 

 

 

 

Price Competition

 

 

 

 

Economic Profits

 

 

 

 

Question 28 (10 points) Analytical Question on Tax Incidence: unknown.png ¬ Part I (6P) From the graph above, identify the areas for the corresponding concepts:   Total Revenue Collected: Tax Incidence on Consumer: Tax Incidence on Producer: Dead Weight Loss:   Part II (4P) Assume this is the market for Cigarettes. Explain in this case the likely elasticities for Dx and Sx, the reasons for such elasticities, and the likely tax incidence effect